Last Updated on 27th October 2026
Relocating to France means expats may need to rethink almost every aspect of their financial plans. Many will have pensions they’ve built up over decades and understandably want to know how moving to a different jurisdiction could affect how their retirement income is taxed and whether their existing arrangements will remain appropriate.
While becoming a French tax resident doesn’t automatically mean every pension product will need to be restructured or transferred, it does mean that financial plans that were stable and suitable in the UK may benefit from being revisited.
A new place of tax residence is a fundamental change, which means currency movements, tax exposure, pension legislation and cross-border reporting requirements should all be factored into these decisions.
Can I Keep My UK Pension After Moving to France?
Deciding how to manage pension and retirement wealth as part of an international move is important, but expats also aren’t obligated to change or move their pension.
The options will depend on each individual’s circumstances, overall wealth and objectives, but moving country changes their tax position, not their ownership of their UK-based pensions. As a summary of the potential ways forward:
- The UK State Pension will normally remain payable. It can be paid into a UK or overseas bank account, and payments made to an overseas account are normally converted into the local currency, meaning the amount received may vary with exchange rates and applicable conversion charges.
- Private and workplace pensions can normally remain in the UK and be drawn from abroad, but expats may need to account for how both regular payments and lump-sum withdrawals will be taxed, based on their place of tax residence.
- Depending on the circumstances, options may include retaining pensions within their existing schemes, consolidating eligible UK pension benefits into a UK Self-Invested Personal Pension, or transferring eligible benefits to a qualifying recognised overseas pension scheme. These are separate options with different provider, tax, regulatory and Overseas Transfer Charge considerations.
In reality, one of the major considerations will be whether a person intends to live in France long-term or will be relocating to the UK in the future. Retaining a UK-based pension is a possibility but may not be the best long-term arrangement for an expat who is moving to France permanently.
Why Does Moving to France Impact Pension Planning?
One of the most significant changes in terms of tax status when an expat moves abroad is becoming a tax resident in another country. This generally means that their worldwide income and gains may become subject to French taxation, even where they arise outside France. Separate French wealth-tax or reporting obligations may also apply to certain assets, depending on their nature and value.
For expats moving to France, this also means their financial plans need to take into account the taxes they will be exposed to, how that may influence their net income, and whether they will also need to manage UK-based tax exposure.
Alongside taxation, expats need to be conscious of:
- Currency exposure, and how much an income earned in GBP will be worth when converted into Euros, including transfer charges.
- Their projected retirement income, and how that might differ depending on whether they retain a UK pension, transfer a fund, or reinvest into a different scheme.
- Succession planning, whether they will be able to distribute their wealth to their intended beneficiaries, and how they preserve wealth for the next generation.
Expats will also need to factor in any future withdrawals they have planned, whether their existing pension arrangements will continue to align with their goals and intended retirement age, and any limitations on their ability to access a pension fund as a French resident.
What Are the Main Options for Managing a UK Pension?
Each person will have their own circumstances, but the primary options generally include leaving a pension in the UK, choosing an alternative investment or pension scheme in France, or transferring a pension to a different product.
Retaining a UK pension could potentially be a suitable route, particularly if the holder intends to relocate to Britain in the future. However, they will need to factor in exchange rates, taxation, the flexibility their fund offers, and how receiving income in a different denomination might affect their budgets if they do find themselves considering drawing on a UK fund from France.
International and UK SIPPs are another possible option. Expats might be able to consolidate multiple pensions, have more control over how retirement wealth is invested, and avoid complexities around transferring a fund across jurisdictions if the SIPP is UK-based.
Another commonly considered option is a transfer to a Recognised Overseas Pension Scheme (ROPS). The exemption that previously applied to certain transfers to qualifying schemes in the EEA or Gibraltar was removed for transfers made from 30 October 2024. A 25% Overseas Transfer Charge may therefore apply unless another exemption is available.
These are some of the more commonly discussed approaches, but they are far from the only possibilities. Depending on an individual’s circumstances, wider investment planning, retirement objectives and tax position, there may be other solutions that are more appropriate than transferring an existing pension.
How Tax Treaties Work When Managing Cross-Border Pensions
Expats who move to France may have multiple pension funds, each with its own rules and policies, from the State Pension to workplace schemes and private pension products.
If they decide to leave a pension in the UK and start to claim this, they may need to know how double tax treaties work, and how they apply to their circumstances.
Under the UK-France Double Taxation Convention, most private and workplace pensions received by a French treaty resident are generally taxable only in France. Government-service pensions are subject to separate rules and may remain taxable in the UK unless the treaty’s nationality exception applies. Reporting obligations may still arise even where the treaty assigns primary taxing rights to one country.
The Benefits of Reviewing Pension Plans Early When Moving to France
Many expats focus on practical aspects of relocating, such as visas, housing and healthcare. Pension planning can potentially be regarded as something to revisit once they’ve settled into life in France.
However, reviewing retirement arrangements before becoming a French tax resident, or shortly afterwards, may provide greater flexibility and more time to consider the available options.
If you plan to or have already relocated, contact the Chase Buchanan team in France for help with understanding how your retirement planning fits into your wider financial strategy. We can also explain where specialist French tax advice may be appropriate.
© Chase Buchanan Private Wealth Management.
Chase Buchanan Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF Licence 287/15 and offers its services in the EU on a cross-border basis as per the provisions of MiFID.
Chase Buchanan Insurance Services, Agents & Advisors is authorised and regulated by the Cyprus Insurance Companies Control Service with License No 6883 and offers services in the EU on a cross-border basis as per the provisions of the Insurance Distribution Directive (IDD).
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*Information correct as at October 2026
